Cable is having a good morning, presently up at 1.4880 from an early 1.4860. Cable is being supported by ongoing selling of the EUR/GBP cross which is presently down at .8930 from an early .8970.
Sources report stop loss sell orders having been triggered when .8950/55 technical support gave out.
From a fundamental standpoint, sterling will be garnering support from an upbeat report on UK house prices produced by Lombard Street Research.
Sources report a large US bank has been an active buyer of sterling this morning.
Technical supports for cable come in at 1.4850 and 1.4820/25, resistances up at 1.4900 and 1.4920.
